🔥 The Inside Story Behind Yesterday's STO Trend 1. Binance futures pricing is determined by index prices. 2. This means the index price is calculated by weighting the real-time prices of other major spot exchanges. 3. Simply put, if spot prices skyrocket on other exchanges, 4. Binance's index price follows suit and rises. 5. On April 1st, a massive withdrawal of STOs occurred on Binance. 6. 25.5 million tokens = valued at approximately $4.85 million at the time. 7. Shortly after, the wallet deposited 28 million STOs into the gate. 8. Subsequently, the STO hit $1.86. 9. It was $0.11 on March 31st. 10. The price rose 17-fold in just two days. 11. It then dropped to $0.50 in just 30 minutes. 12. As of writing, it is $0.22. 13. It fell more than eightfold from its peak. ✍️ Binance recently [critically] market maker risk Signals and guidelines have been issued (Reference) It seems they don't care about the manipulation on Gate, where spot orders are collected from Binance and pushed up more easily. People will start tracking now. However, they should be prepared to get wiped out by a map hack. #STO #MarketMaker
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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